UPDATE 1-Hong Kong's sky-high property prices prove resilient in face of protests [Reuters (UK)]
SUN HUNG KAI PY LTD S/ADR (SUHJY)
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Source: Reuters
Hong Kong's sky-high property prices prove resilient in face of protests - Reuters 7 Min Read HONG KONG (Reuters) - While months of Hong Kong protests have scared away tourists, sent jitters across the financial centre and cast a dark cloud over the local economy, there’s one thing residents of the city are confident they can bank on - sky-high property prices. Home prices in the former British colony have rocketed over 200% in the past decade, driven by limited housing supply and large capital flows from mainland Chinese buyers, angering many residents who can’t afford to get on the property ladder. And despite the worst protests since Hong Kong reverted to China rule, property prices have hardly budged. Lily Chow, a 32-year-old clerk, is among the lucky ones. She and her husband recently snapped up a two-bedroom apartment off the plans for HK$7.5 million ($957,000) in the New Territories. “I am not confident in the government, outlook or economy. I am only confident that Hong Kong p
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